- A Remittance Advice form must accompany every payment. No other forms are necessary.
- Do not staple cheques to the Remittance Advice form as this damages the cheque.
- Follow the instructions on the forms carefully.
For levies, undistributed assets, registration fees, interest or other (not sufficient funds (NSF), closed account, untraceable cheque or court costs)
- Please note that Form RA1 has new restrictions and requires more information.
- You may select only one remittance type. For example, you may not remit both levies and fees using the same form. You must use a separate form for each remittance type.
- Cheque numbers must be listed for all cheques mailed with this form to the OSB.
The Office of the Superintendent of Bankruptcy (OSB) has developed an electronic process for submitting Remittance Advice forms (e-remittance). The move to e-remittance offers significant benefits over the paper-based system. Because data are sent directly from the Licensed Insolvency Trustee’s (LIT) practice–management software to the OSB, the potential for data-entry errors is greatly reduced. It also lowers LITs’ paper consumption and postage costs, and enables LITs to consolidate more payments into a single remittance.
Deadline established for levy payments
- With the creation of the new Trustee Statement of Outstanding Balances for fees and levy payments, the OSB has introduced a deadline for levy payments.
- From the date Form 11, 15 or 58 (Notice of Application/Deemed Discharge) is filed with the OSB, the LIT will have 45 calendar days to pay the levy. The objection period falls within the 45-day period.
- There is no change to the date that registration fees are due to the OSB.
For unclaimed dividends